wiar 5-26-17

Mary FanslauWhat I Am Reading

May 26 (Friday)

Markets
Wall Street Signals Bond Yields to Stay Lower, Fed Hikes or Not (B)
US energy junk bonds shine as equity investors suffer in 2017 (FT)
Vanguard takes tilt at fast-growing Chinese market (FT)
Machine learning set to shake up equity hedge funds (FT)

Oil
OPEC Leaves Market Guessing on Exit Strategy After Historic Pact (B)
OPEC Extends Oil Output Cuts but Glut Fears Persist (W)
The Daily Prophet: OPEC Flexes Its Muscles And No One Cares (B)

Central banks
How the Fed plans to unwind massive market stimulus (FT)
Moodys China Downgrade and Federal Reserve Impact (BI)
China Hitches Yuan to the Dollar, Buying Rare Calm (W)
China’s Monetary Turbocharger Is Running at an All-Time High (B)
Some Reflections on Japanese Monetary Policy (Bernanke Lecture, BOJ)

US
Millennials Want to Buy Homes but Aren’t Saving Up (W)
Luxury Homes in Manhattan Are Finally Getting Cheaper (B)
Counting on Student Loan Forgiveness? Don’t Bet on It (B)

Europe
Le Pen Wavers on Euro as Parliamentary Election Looms (W)

China
Chinese Money Funneled to Far-Flung Homes Heralds Bubble Trouble (B)

Emerging
Tigers, Tiger Cubs and Economic Growth (FRB-SL)
South Korean Consumer Confidence Soars on Moon Election Victory (B)
S Korea’s zombie companies an ‘economic powder keg’ (FT)
One Thing Modi Hasn’t Brought: Jobs (B)
Saudi Aramco Struggles to Disengage From Royal Family’s Whims (W)
Nigeria moves closer to overhaul of oil sector (FT)

US politics
Trump Officials Offer Differing Views on Tax Plan (W)
`Mnuchin Rule’ Against Wealthy Tax Cuts Comes Back to Bite Him (B)
Senate Weighs Health-Law Rewrite Pushing Obamacare Repeal to 2020 (B)
Private money might save Trump’s infrastructure plans (FT)
Court Won’t Restore Trump’s Travel Ban (W)
Sessions Says DOJ Will Seek Supreme Court Review of Travel Ban (B)

Geopolitics & terrorism
Trump Rolls Into Awkward First G-7 Summit With Echoes of Reagan (B)
Trump Omission in NATO Comments Rankles European Allies (W)
As Trump Meets NATO, Obama Tells Berlin ‘We Can’t Hide Behind a Wall’ (W)
Trump Tells NATO to Pay Up for Military (W)
Trump fails to endorse Nato mutual defence (FT)
Manchester Leaks Prompt Trump to Call for Probe (W)

Industries & companies
Autos: GM Sued by Diesel Truck Owners Over Emissions (W)
Energy: Activist Investor’s Pressure Builds on BHP Over Energy (W)
Financials: Banks Want to Raise Debit-Card Swipe Fees. Republicans Say No (B)
Retail: Best Buy Defies Retail Doldrums With Higher Sales (W)
Retail: Sears Jumps After Posting First Quarterly Profit Since 2015 (B)
Tech: FAANGtastic Five pull tech into bubble territory (FT)
Tech: Lyft Courts Uber’s High-End Clientele With Black Car Service (B)

Corporate finance
Tech Startups Are Infatuated With Not-IPOs (B)

Offbeat
Trump and Macron Display White-Knuckle Diplomacy (W)
Zuckerberg Asks Harvard Grads to Fight Isolationism, Nationalism (B)
‘Smartphone addiction’ seems to only be getting stronger (BI)